IMAX Expands Relationship with SPI in India with Four-Theatre Deal

IMAX (NYSE:IMAX) (TSX:IMX) and SPI Cinemas Private Limited (SPI) today announced an agreement to install four digital IMAX® theatre systems in new SPI Cinemas complexes across India. The deal brings the total number of commercial IMAX® theatres open or contracted to open in India to 13.

The local Indian film market currently ranks number one in the world for attendance and film production with over 1,000 films produced a year and approximately 90% of revenues derived from non-English language movies. Recent reports project the country's film industry to grow from $3.2 billion in 2010 to $5 billion by 2014.

"We are pleased to expand our relationship with SPI in India," said IMAX CEO Richard L. Gelfond. "Not only is SPI Cinemas' commitment to offering cutting-edge entertainment experiences perfectly aligned with the IMAX brand, but this agreement puts us in position to consider the local release of Bollywood films, which will be key to the success and growth of IMAX in this strategically important region of world."

"SPI is a leading player in the Indian exhibition industry, with multiplexes that have some of the highest attendance rates. Today's agreement will bring IMAX theatres into their new multiplexes, which will be located in high-growth areas," said Don Savant, IMAX's Senior Vice President and Managing Director, Asia Pacific. "Our unparalleled technology, worldwide brand and exciting film slate coupled with SPI's state-of-the art multiplexes are sure to thrill audiences across India and we are pleased to join forces with them once again."

IMAX's digital projection system delivers The IMAX Experience® and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX® 3D presentations.

About IMAX Corporation:IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of Dec. 31, 2016, there were 1,215 IMAX theatres (1,107 commercial multiplexes, 16 commercial destinations and 92 institutions) in 75 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."IMAX Corporation Directory pageAbout SPI Cinemas Private Ltd.:

SPI Cinemas, a leading player in the entertainment industry offers services such as exhibition, distribution and production. SPI Cinemas strives to be at the forefront of media technology and endeavors to bring new entertainment technology to customers first. It's roster boasts of brands such as Sathyam Cinemas and Escape in Chennai. On the exhibition front, Sathyam Cinemas has been a household name in Chennai since 1974 and is the city’s hottest entertainment destination. It was the first multiplex in India to have state-of-the-art digital screens. It is the first in the country to have a screen equipped with Dolby Atmos and also the first in Asia to have a screen equipped with Auro 3D. Apart from showcasing the latest blockbusters, it also houses Blur, the largest multi-format gaming facility in India and the concept restaurants, ID and Ecstasy.

The group focuses on providing a paramount movie viewing experience by exhibiting movies in settings like never before. Escape, Chennai’s first luxury multiplex is a visual treat apart from being a top notch entertainment destination.